Chinese futures rallied on better steel margins, which prompted more mills to ramp up production. The most-actively traded iron ore futures on the Dalian Commodity Exchange (DCE), for September delivery, hiked by 2.14% to RMB 645.50 per tonne at Wednesday However, the steel rebar contract on the Shanghai Futures Exchange was mostly flat throughout the …
Tag archives: IO
Australian Weekly Exports Drop to 16.8 Mln Tons
Shipments from Australia including Port Hedland total 16.8 million tons in week to May 8, compared with 18.9 million tons a week earlier, according to Global Ports data in AHOY compiled by Bloomberg. * From Port Hedland: 9.7 million tons ** NOTE: Port Hedland used by miners including BHP Group, Fortescue Metals Group Ltd. and …
Continue reading “Australian Weekly Exports Drop to 16.8 Mln Tons”
Aussie Pressured by Fed’s Push Back and China Beef Ban
Aussie Pressured by Fed’s Push Back and China Beef Ban The Australian dollar briefly rose above its 100-day moving average again this week in what appears to be a false break after Federal Reserve officials pushed back on the notion of negative U.S. rates. The currency had been stuck below the rolling gauge since January …
Continue reading “Aussie Pressured by Fed’s Push Back and China Beef Ban”
Iron Ore Tests key Support But Refusing to Buckle
Iron Ore Tests key Support But Refusing to Buckle Onshore iron ore futures have held above key support levels this morning, having failed to break below the weekly pivot point at RMB 625.7. Fundamentally vulnerable on the back of a global slowdown due to the COVID-19 pandemic, there is increasing bearish rhetoric regarding the performance …
Continue reading “Iron Ore Tests key Support But Refusing to Buckle”
Iron Rises With Brazil Flows, Australian Spat in Focus
Iron Rises With Brazil Flows, Australian Spat in Focus Iron ore futures gained as major producer Brazil continued to post lower shipment figures and investors tracked escalating trade tensions between China, the top iron ore buyer, and Australia, its largest supplier. Brazil’s daily average exports of iron ore and concentrated products was 1.04 million tons …
Continue reading “Iron Rises With Brazil Flows, Australian Spat in Focus”
Recovery Quickens as PBOC Vows Support
Recovery Quickens as PBOC Vows Support Chinese industrial commodities began the week on the front foot after the central bank pledged more powerful policies to combat the coronavirus’s hammer blow to growth. The evidence of the past few days, from shrinking crude and metals stockpiles, to the rebound in car sales and usage, suggest that …
Unexpected Gain in Chinese Exports Is Seen as Temporary
Unexpected Gain in Chinese Exports Is Seen as Temporary China’s exports unexpectedly rose in April aided by stronger shipments to South East Asia, though with the coronavirus pandemic damaging global demand that increase is likely to be temporary. Imports fell. Exports rose 3.5% in dollar terms in April from a year earlier, while imports dropped …
Continue reading “Unexpected Gain in Chinese Exports Is Seen as Temporary”
DCE rebounds over higher China’s infrastructure spending
Chinese futures rose on Wednesday despite some earlier losses at the start of the session. As such, the most-actively traded iron ore futures for September 2020 delivery on the Dalian Commodity Exchange (DCE) rose by 1.16% day-on-day to RMB 613 per tonne on Wednesday. Likewise, the steel rebar contract on the Shanghai Futures Exchange also …
Continue reading “DCE rebounds over higher China’s infrastructure spending”
DCE slips amid pre-holiday restocking
Chinese futures slipped toward the closing session after a rally in morning session on pre-holiday restocking demand. The most-actively traded iron ore futures for September 2020 delivery on the Dalian Commodity Exchange (DCE) dipped slightly by 0.41% day-on-day to RMB 607 per tonne on Friday. Following the decline, the steel rebar contract on the Shanghai …
DCE slips after strong morning rally
Chinese futures slipped slightly on Monday, despite a strong opening due to supply tightness of port inventories. The most-actively traded iron ore futures for September 2020 delivery on the Dalian Commodity Exchange (DCE) dipped slightly by 0.82% day-on-day to RMB 602 per tonne on Monday. Similarly, the steel rebar contract on the Shanghai Futures Exchange …